Smith and Roberson’s Business Law
Smith and Roberson’s Business Law
17th Edition
ISBN: 9781337094757
Author: Richard A. Mann, Barry S. Roberts
Publisher: Cengage Learning
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Chapter 5, Problem 1CP
Summary Introduction

To discuss: Whether the person S‘s contention is correct or not.

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Whenever the implementing departments find, by their own initiative or by petition of a consumer, that a consumer product is found to be injurious, unsafe or dangerous, what should they do about it? A. They shall, without the need for a notice and hearing, make the appropriate order for its recall, prohibition or seizure from public sale or distribution B. They shall, after due notice and hearing, make the appropriate order for its recall, prohibition or seizure from public sale or distribution. C. They shall immediately make a recommendatory report to be submitted to the Office of the Secretary of the DTI. D. They shall immediately order for the export of the products.
As a student, how do you explain it? Section 6. (a) Any creditor who in connection with any credit transaction fails to disclose to any person any information in violation of this Act or any regulation issued thereunder shall be liable to such person in the amount of P100 or in an amount equal to twice the finance charged required by such creditor in connection with such transaction, whichever is the greater, except that such liability shall not exceed P2,000 on any credit transaction. Action to recover such penalty may be brought by such person within one year from the date of the occurrence of the violation, in any court of competent jurisdiction. In any action under this subsection in which any person is entitled to a recovery, the creditor shall be liable for reasonable attorney's fees and court costs as determined by the court. (b) Except as specified in subsection (a) of this section, nothing contained in this Act or any regulation contained in this Act or any regulation…
Taxation is an inherent power of the state not only for purposes of raising revenues but also to distribute equally the wealth of the nation and protect certain industries by granting exemptions
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